Trump's tax cuts are gorgeous: If you're a billionaire

In fact, the law entitled ‘One Big Beautiful Bill’ was approved by President Donald Trump on June 4, 2025. This law, in light of what he declared regarding it in his speech at the World Economic Forum held in Davos in January 2026, was described as a gift to American citizens, as there are no taxes on tips, overtime, and Social Security benefits for retirees, among others.

However, the enactment of this law made many Americans think that the vision of the politicians depicted in their speeches differed greatly from reality. Single-parent families started witnessing an increase in the prices of goods and necessities such as rent, gasoline, and food. Rather than using terms related to figures, this issue may be considered from the point of view of the ordinary American citizen who knows about tax reduction, but the price of life gets increasingly expensive, since every increment poses a direct threat to the family table.

On the contrary, those owning large businesses and having lots of money to their name are the people who gained much from this, since the effect on them was more noticeable and substantial; indeed, the wealthiest A person in America alone saved $65,000 this year compared to his employee neighbour, who only saved $110, which is worth even less than the cost of a meal in the restaurant he owns. It is due to such debates about the law that the topic became domesticated.

But Trump's difficulties did not end with the issue of income taxes. As people across America tried to figure out what exactly had been different about their salaries, a new challenge appeared, although this one occurred in a very distant part of the world and affected America even before it became known through the mass media.

The Strait of Hormuz is a relatively small area separating Iran from Oman, but 20% of the world's oil supplies go through it. The simple explanation for this is that any disruption of transport through this strait would cause fuel prices to go up all around the world.

This is precisely what happened. Due to a military confrontation between the United States, Israel, and Iran, Tehran closed navigation in the Strait. Naturally, the price of fuel increased in America, and so did inflation.

The taxpayer who saved money by $9 because of Trump's tax reforms now ended up spending much more at filling stations.

Trump tried to prove to all people that he is a master of the current situation. In May 2026, Trump made a sudden announcement that an agreement between his country and Iran about reopening the Strait had been reached and was almost finalised, which Iran called "inaccurate and inconsistent with reality." That means no deal was ever made.

Here comes the real trap that has caught Trump up. If the tension between the two countries continued, the prices of fuel would keep rising, and people would suffer from that; however, if he gave in to Iran's threats regarding the nuclear program to avoid another tragedy, his critics would accuse him of losing power in America. In any case, the biggest loser would be the ordinary citizen who pays for fuel.

If you had asked any citizen from America one year back: Who are the nearest friends of Trump? The answer would be Elon Musk without a doubt. The person who spent crores of money on his electoral campaign, attended all events with him, and even appointed him by Trump as the chief of his "Government Efficiency Department. It seemed that the most prominent political figure in the whole country and the richest businessman wanted to govern the nation together.

And then the "One Big Beautiful Bill" law brought everything upside down. During the vote on the law, Elon Musk immediately declared that this law was a "disgusting insult." There was no hesitation, no reticence — everything happened openly and aggressively. And Musk concluded with words that every MP who voted for the law after making promises about reducing spending "should hang his head in shame."

Trump did not stay silent. His counter to Musk was that Musk does not like the legislation just because it is in his personal best interest, since the legislation stripped the tax exemption on electric vehicles worth billions in revenue for Tesla. Trump promised to withdraw massive government funding from Musk’s companies.

Musk did not stop there; he escalated. Musk posted on the X platform that without his help, Trump would not have been elected into power in 2024, and the Democrats would have controlled Congress.

Now take some time to reflect on this. You have two of the richest individuals in the world who are at each other's throats. But whose interest does it serve? Surely not that of the American citizen. Trump supports legislation that works in favour of the donor class and corporations. Musk counters him because he has an issue with his business.

Indeed, the results of the polls clearly show that Trump does not like what is being said about him.

60 per cent of Americans express dissatisfaction with the way he works. This means that in every ten citizens, six of them say "no." This statistic comes as no surprise if one thinks about it, because the ordinary man in the street feels the effects of his policies in his wallet before anyone else in any economic report.

Even worse is that independent voters, who, as we know, make up the majority of voters and decide the result of the elections, decreased their support from 48 to 34 per cent after Trump took office.

Trump, as he is, does not surrender and declares that he can win with the help of his supporters. The fact is, he did it before.

However, this time everything has changed.

The man who pays more at the supermarket, at the fuel station, and receives only $9 of the supposed "big tax cut" understands without any economic analysis what is happening.

We encountered four crises in this article. And each time, the solution came back to one simple question: Who pays the price?

And the answer to that was always someone without a seat at the table.

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